BrightStar Information T... (CE) (USOTC:BTSR)
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BrightStar Information Technology Group, Inc.,
(OTCBB:BTSR) today announced that it has acquired, as a wholly-owned
subsidiary, Arlington, Virginia-based MyPublicInfo, Inc. ("MPI"), a
privately held provider of leading edge, online consumer identity and
public records management products and services.
MPI offers the most comprehensive suite of non-credit related
consumer identity and public records management solutions for the $1
billion Consumer Identity Management market. MPI's product line
consists of online applications for identity theft risk assessment,
prevention, monitoring and recovery services comprehensive identity
and criminal background screening and monitoring services.
MPI's Public Information Profile ("PIP") product has been packaged
with major financial and other software applications and has garnered
extensive press and partnership interest. See MPI News at
www.mypublicinfo.com/news.aspx for complete media coverage on MPI
products, partnerships and recent developments. The PIP is available
via www.mypublicinfo.com.
Identity Management and the MPI Public Information Profile
Identity fraud is a large and rapidly growing problem. More than
nine million Americans were victims of identity fraud over a recent
12-month period, according to Javelin Strategy & Research. While
identity fraud is most typically associated with credit fraud, 49% of
all identity frauds were actually non-credit frauds; frauds that were
not related to a consumer's credit and could not be detected by
conventional credit monitoring services, fraud alerts, and credit
reports.
MPI's PIP product addresses this problem by providing consumers
with the industry's only online, non-credit, background self check
product. The PIP sifts through an extensive array of over 7000 public
databases and 2 private "super-aggregator" databases and assembles a
consumer's various records into a single comprehensive report. The PIP
provides consumers with a single point of access to identify and
manage potential identity theft or public record inaccuracies across
the full range of their public records databases.
These public databases include Federal, State and County records,
financial records such as bankruptcies, liens and judgments, property
ownership records, government-issued and other licenses, law
enforcement records of felony and misdemeanor convictions, and UCC
records.
In addition to their current product and service lines, MPI's
proprietary, patent-pending, identity information search and data
distillation technologies have broad potential applications in
identity screening, identity theft and identity monitoring. Businesses
and government agencies can use these applications for employee
background screening and monitoring, identity-related alert services,
and packaged identity theft prevention, recovery and insurance
services.
"MPI is truly at the forefront of the Consumer Identity Management
market and is offering and developing identity management solutions
that will have enormous positive impact on the lives of millions of
people," said Ian Scott-Dunne, Chairman of BrightStar, "MPI's
considerable lead in the Identity Management space will be further
enhanced by this acquisition. It also provides MPI with an accelerated
path to market for an extensive pipeline of products and services that
will enable consumers to take control of their identity and allow
businesses to incorporate valuable identity management solutions into
both their internal processes and client offerings."
About MyPublicInfo
MyPublicInfo, Inc. (MPI) was founded in Arlington, Virginia, in
2004 and is the leading provider of consumer identity and public
records management services. MPI sells the most comprehensive consumer
products available through www.IdentitySweep.com and
www.MyPublicInfo.com, partner web sites, and other marketing channels.
For more information or orders, please go to www.mypublicinfo.com.
About BrightStar Information Technology Group
Based in Pleasanton, CA, BrightStar Information Technology Group,
Inc. (OTCBB:BTSR), and its wholly-owned subsidiaries provide software
and software application engineering services for consumers,
businesses and non-profit organizations. BrightStar subsidiaries
include Neulogic, Inc., and MyPublicInfo, Inc. Neulogic
(www.neulogic.com) is a provider of website hosting, content
management and e-communications software and services for non-profit
organizations.
"Safe Harbor" Statement
This release may contain "forward-looking statements" as defined
under the Federal Securities Laws. Actual results could differ
materially from those projected in the forward-looking statements as a
result of certain risk factors, including but not limited to: (i)
adverse changes in general economic or market conditions; (ii) risks
associated with acquisitions and investments, including the challenges
and costs of integration, restructuring and achieving anticipated
synergies; (iii) competitive factors, including but not limited to
pricing pressures and new product introductions; (iv) the transition
to new products, the uncertainty of customer acceptance of new product
offerings and rapid technological and market change; (v) war or acts
of terrorism; (vi) the ability to attract and retain highly qualified
employees; (vii) the inability to secure sales, marketing and
distribution partnerships and (vii) other one-time events and
important factors disclosed previously and from time to time in
BrightStar's filings with the U.S. Securities and Exchange Commission.
Readers are cautioned not to place undue reliance on these
forward-looking statements, which speak only as of the date of this
communication. BrightStar undertakes no obligation to publicly release
any revision to its forward-looking statements to reflect events or
circumstances after the date of this communication.